Another day, another parking lot going down in South Park—gears are finally turning on plans for a new mixed-use building at the corner of Olympic Boulevard and Eleventh Street (across the street from LA Live and on-its-way Fig Central), according to a filing with the city (via Urbanize LA). There's not a whole lot to go on just yet, but developer Shenzhen Hazens Real Estate Group is planning for 650 condos, 250 hotel rooms, and 80,000 square feet of retail and restaurant space, so whatever they come up with, it's going to be pretty tall.
The project may or may not result in the demolition of the adjacent Luxe City Center Hotel, which Shenzhen Hazens also owns. If it does, expect Luxe to continue as the operator for the new building, thanks to a five-year contract the two just signed.
This latest development comes on the heels of groundbreaking at Fig Central across the street and Ten50 a block away (the city's first drone-friendly building), and the announcement of pricing at megaproject Metropolis a few blocks away. Los Angeles is getting some much-needed housing (or Downtown is, anyway), but you better be earning a lot if you want to afford any of it.
Shenzhen Hazens is early on in the process with this one—no timetable, architect, or renderings available yet—but don't be surprised to see fences planted and cranes up soon. Just like everywhere else in South Park. —Ian Grant
· Hotel and Condos Planned for Luxe Hotel Site [Urbanize LA]
· Mega-Development Coming to Site of South Park's Luxe Hotel [Curbed LA]